Finance
TotalEnergies CEO would 'not be surprised' if some Nord Stream gas lines came back
Published by Global Banking & Finance Review®
Posted on March 26, 2025
1 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on March 26, 2025
1 min readLast updated: January 24, 2026
TotalEnergies CEO suggests some Nord Stream gas lines may return, emphasizing Europe's reliance on Russian gas for competitiveness.
FRANKFURT (Reuters) - Europe will continue to need a certain level of Russian gas supplies if it wants its industry to remain competitive, the CEO of oil major TotalEnergies said on Wednesday, pointing to the defunct and partly damaged Nord Stream pipelines.
"I would not be surprised if two out of the four (came) back to stream, not four out of the four," Patrick Pouyanne told an industry event in Berlin.
Three of the four Nord Stream gas lines were damaged in blasts that took place in 2022. One line remains intact but has never been used.
"There is no way to be competitive against Russian gas with LNG coming from wherever it is," Pouyanne added.
(Reporting by Christoph Steitz, editing by Thomas Seythal)
The potential partial return of Nord Stream gas lines and Europe's reliance on Russian gas.
Russian gas is crucial for Europe's industrial competitiveness due to its lower cost compared to LNG.
Three out of four Nord Stream pipelines were damaged in 2022, with one remaining intact but unused.
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